The two Sikhs have been released after a local 'jirga' of tribal elders negotiated with the unknown captors.
Some insiders, however, said that a huge amount of ransom was paid to secure the release.
The captives, Savendar Singh and Anand Singh, were kidnapped from Dera Ismail Khan on February 11 by unknown assailants.
Anand said he and Savender were running their herbal medicine business in Dera Ismail Khan when they were kidnapped on gunpoint by masked men on motorbikes. He said the kidnappers shifted them to an unknown place later.
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Anand rejected the notion that they had been released after payment of ransom.
Special Assistant to Khyber Pakhtunkhwa Chief Minister, Soran Singh said Anand and Savender were kept in Mir Ali.
Another Sikh man in mohallah Jogan Shah said that the two had been released after payment of Rs 4 million to the kidnappers.